Cyprus Mail
Business

Retailer BHS placed into administration

People walk past a branch of BHS on Oxford Street in London

British department stores group BHS on Monday entered administration, a form of creditor protection, putting about 11,000 jobs at risk.

Philip Duffy and Benjamin Wiles, managing directors of Duff & Phelps, have been appointed joint administrators, the restructuring firm said.

“The group will continue to trade as usual whilst the administrators seek to sell it as a going concern,” it said.

BHS employs about 8,000, while 3,000 contractors work with the 88-year-old firm which has 164 stores.

Its collapse into administration is Britain’s most high profile retail casualty since Phones4U in September 2014.

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